39 Cards in this Set
| Front | Back |
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Consumer Behavior
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Describes how consumers make purchase decisions and how they use and dispose of the purchased goods and services
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5 Step Consumer Decision-Making Process
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1. Need Recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase
5. Post-Purchase Behavior
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4 Factors that affect consumer decision making
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1. cultural
2. social
3. individual
4. psychological
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Consumer decision strategies
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- Compensatory Model:
---- Multiattribute strategy
- Noncompensatory Model
---- Conjunctive Rule
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Multiattribute Strategy
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- The sum of the importance level times the attribute level
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Conjunctive Rule
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- the attribute level must meet/exceed all of the minimum cutoff levels
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Lexicographic Rule
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Select highest on most important attribute and if it is tied with others then go to the second most important
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Cognitive Dissonance
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(buyers regret) when discomfort caused by a purchase decision leads to low satisfaction and product returns
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4 Factors Influencing Purchase
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1. Social
2. Personal
3. Psychological
4. Situational
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Social Influences
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family (first influencers), culture, global, groups, social class, gender roles
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Reference Groups (Social Influences)
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- Direct = you are a member of this group and they have a direct affect on you
- Indirect
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2 types of direct groups
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Primary (family, friends, co workers)
Secondary (clubs, professional groups)
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2 types of Indirect groups
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- Aspirational (celebrities that you look up to)
- Non-aspirational ("If I buy this car people will think...")
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Personal Influences
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Family, self-identity, personality, lifestyle, age, job, affluence
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Difference between lifestyle and personality
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Personality = Internal Characteristics
Lifestyle = External characteristics of how one lives
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Psychological Influences
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motivation, attitudes/beliefs, learning, perception
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Perception- Selective Exposure
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consumer notices certain stimuli and ignores others
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Perception - Selective Distortion
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consumer changes information that conflicts with feelings of beliefs
- ex: a coach yelling at a ref
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Perception - Selective Retention
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Consumer only remembers information that supports personal beliefs
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Consumer Beliefs
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Represents the knowledge a consumer has about objects, their attributes, and their benefits provided
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Attitude
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consistent response toward an object
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Cognitives (Thinking)
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guide our thoughts
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Affectives (feeling)
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influence our feelings
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Conative (Doing)
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affect our actions
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Central-route processing
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HIGH motivation
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Peripheral-route processing
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LOW motivation
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Theory of Reasoned Action
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Predicts Bi, not B; based on one's attitude toward the act (A act) and the influence of other's opinions (SN)
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B =
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Behavior
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Bi
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=Behavioral Intention
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(A act) =
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attitude toward an act
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bi =
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belief about consequences of the act
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ei =
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evaluation of consequences of the act
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SN =
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subjective norms (how much the consumer is influenced by this person)
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NBj =
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belief of important people (what does this person believe about this act)
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MCj =
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motivation to comply with this person
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B = BI =
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(A act) + (SN)
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(A act) =
Formula
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the sum of (bi) + (ei)
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(SN) =
Formula
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the sum of (NBj) + (MCj)
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When do attitudes predict behavior?
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When:
- Involvement is HIGH
- Knowledge is HIGH
- Confidence is HIGH
- Peer pressure is HIGH
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MKT 300: Exam 2